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NRS 104.9407

Restrictions on assignment, transfer, creation or enforcement of security interest in leasehold interest or in lessor’s residual interest

Known as the Uniform Commercial Code

The act spans §§ 104–104 (489 sections).

(Added to NRS by 1999, 326; A 2001, 726)

3. The creation, attachment, perfection, or enforcement of a security interest in the lessor’s interest under the lease contract or the lessor’s residual interest in the goods is not a transfer that materially impairs the lessee’s prospect of obtaining return performance or materially changes the duty of or materially increases the burden or risk imposed on the lessee within the purview of subsection 4 of NRS 104A.2303 unless, and then only to the extent that, enforcement results in a delegation of a material performance of the lessor. Even in that event, the creation, attachment, perfection and enforcement of the security interest remain effective.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.